The target implies an upside of around 43% from Friday’s closing price of ₹3,149.80.
UBS said Swiss generic medicines maker Sandoz has received approval to launch generic semaglutide in Canada, with the drug set to be launched in three strengths through a pen format.
The brokerage said the development is positive for Shaily Engineering Plastics given its dominant share in the Canadian pen market. UBS expects the development to support the company’s growth trajectory and keep it on track to exceed its FY27 guidance.
According to UBS estimates, Shaily could supply around 40 million pens, compared with the company’s FY27 guidance of 36 million pens.
In June, the company’s promoter Vanita Nagda sold 4 lakh shares of Shaily Engineering Plastics through a block deal at an average price of ₹2,635.05 per share. The transaction was valued at around ₹105.4 crore, with the buyer not disclosed at the time.
Analyst consensus and stock reaction
According to Bloomberg analyst data, five of seven analysts covering Shaily Engineering Plastics have a “buy” rating, while two have a “hold” rating. The stock has no “sell” ratings.
The 12-month consensus target price stands at ₹3,875.86, implying an upside of around 23% from Friday’s close.
UBS has the highest target at ₹4,500, followed by Investec at ₹4,074, 360 ONE Capital Markets at ₹3,971, and Motilal Oswal at ₹3,850.
Shares of Shaily Engineering Plastics were trading at around ₹3,319.60, up 5.4%, after hitting an intraday gain of nearly 8%. The stock has advanced nearly 50% this year, so far.
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